PDP denies plans to increase fuel pump price.

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The Federal Ministry of Petroleum Resources
said on Thursday the government does not
plan to increase the pump price of petrol,
which is currently N97 per liter.
In a press statement signed by the
Permanent Secretary, Danladi Kifasi, the
Ministry described such fears were
unfounded.
“We would like to appeal to Oil Marketers to
refrain from hoarding of petroleum products
and the general public from panic buying in
anticipation of any increase in pump price. It
is equally important to state that neither the
Federal Ministry of Petroleum Resources nor
any of its parastatal is under any instruction
to activate a new pump price regime as being
speculated,” he said.
The Permanent Secretary further warned
petroleum product marketers to desist from
creating any scarcity so as to induce panic in
the system in order to exploit unsuspecting
members of the public.
He also warned that the relevant agencies of
the government, including the Department of
Petroleum Resources and the Economic and
Financial Crimes Commission, have been
directed to deal with offenders.
Mr. Kifasi assured that the NNPC and its
downstream flagship company, the Pipelines
and Products Marketing Company have made
enough arrangements to ensure that the
entire nation has petroleum products
throughout 2014 as it has done in the last
three years.